Today, there's no beating around the bush. I'm just going to put it all out there.
I accrued a finance charge.
And I am ashamed.
You see, I pay off my credit card balance in full every month. I never carry a balance. It's even a running joke between me and my best friend Charlie.
But this month, I received my credit card statement in Online Banking and was aghast to see in BIG BOLD TYPE a finance charge of $4.83. How could this have happened?
Turns out I'd had a case of keyboard dyslexia when I made my payment online. I'd entered a two where I should have entered a five. And because this particular bill was substantial (like Dave, I also like to use my credit card to get reward points, and I'd made a couple of big purchases during the last billing cycle), that three-dollar error cost me almost five bucks in finance charges.
Fortunately, you're not required to pay off your balance in full every month—that's just something I do—so the only thing damaged was my pride. But the experience did get me thinking about what those finance charges could've been if I'd made a $30 error or a $300 error—or just made the minimum payment.
So tell me: Are finance charges a necessary evil, or do you go out of your way to avoid them, like I do?
Leave a comment
Please Note
By posting content on this Blog, you expressly grant Wells Fargo (and its affiliates) the right to use or distribute the posted content in any form, worldwide, and in perpetuity. You also agree to indemnify and hold Wells Fargo harmless against all liabilities, losses, claims and expenses arising from your posting of materials on this Blog (this includes any claim that Wells Fargo's use of the content or images infringes on someone else's intellectual property rights). Please read our Community Guidelines for more information.
If you have immediate service needs or require follow up, please contact your bank representative or relationship manager.